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Moratorium On Loan Repayments Extended By Another 3 Months

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In view of the extension of the lockdown, RBI has permitted banks to extend the moratorium on term loan installments by another three months (from June 1, 2020, to August 31, 2020). The earlier 3-month moratorium on the EMIs was ending on May 31, 2020. This extension will make a total of 6 months moratorium on the loan EMIs. Since the moratorium has been expended by another 3 months, your loan will not be classified as non-performing and also, it will not have any impact on your credit score.. Watch this video to know how to avail a moratorium. 

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